Mine Monero and help the trust of a charity fund become real after the launch of a special site. Mining of the cryptocurrency is automatically started as soon as the user comes to this resource. The extracted coins are immediately transferred to the account of the Ukrainian “Tabletochka” foundation. The rate of Monero today is $157.
Monero is an anonymous cryptocurrency with the letter designation XMR. The name Monero in translated from Esperanto means: “coin”.
This crypto currency appeared in 2014 as a fork of Bytecoin (not Bitcoin). After the distribution of most Bytecoin by the community it was decided to reincarnate the currency with a new name and zero preliminary mining.
Monero is now among the top ten cryptocurrencies with the highest market capitalizations.
What is Monero?
The main distinctive feature of Monero is the confidentiality of transactions. All user data is hidden from the outside world and is classified. Therefore, when working with XMR almost complete anonymity is guaranteed. This is achieved by mixing transactions of different users which “confuses” tracking and allows you to hide the details of a particular operation. And with the help of hidden one-time addresses, not tied to a specific person, Monero hides account balances.
Monero also uses two keys to achieve a high level of privacy. One for buying and the second one the user can share if necessary. Thus, although having access to transaction information, third parties do not have access to the money itself.
A Proof-of-work protection algorithm is used in order to protect its systems from hacker attacks and spam.
A limited number of XMR guarantees a constant demand for the currency and stability of Monero’s rate.
However, the advantages of the cryptocurrency also have a downside. Mining XMR requires fairly powerful technology. The famous anonymity of transactions is not one hundred percent. Under certain, albeit unlikely, conditions some of the transactions can be revealed. And the transactions themselves take up several times more space than transactions using Bitcoin.
Follow the Monero online exchange rate: